PROTECTING SENIORS FROM FINANCIAL ABUSE

Alberta’s population is aging. By 2031, when the last of the baby boomers reach 65 yearsof age, it is projected that there will be more than 923,000 seniors – which means about onein five Albertans will be a senior*. As a person ages, changes in their ability to makeimportant decisions and their memory can leave them vulnerable to fraudulent orunsuitable investments.

Scam artists are also aware of how the aging process affects seniors. They prey on seniors by exploiting their worries and dreams about retirement, leaving a legacy for their families and outliving their savings.

According to the Government of Alberta, financial abuse is one of the most frequently reported forms of elder abuse in Alberta.

Tools to protect seniors from fraud

To combat this vulnerability and increased risk, the ASC has developed a collection of senior-focused resources to help seniors or the seniors in your life learn ways to spot and stop elder financial abuse.